Neuberger Berman Fund Buys Piece Of MKP

Jan 9 2013 | 12:29pm ET

Neuberger Berman Group's private equity fund of hedge fund managers has made its third investment in less than a month.

Dyal Capital Partners, which closed in December with $1.28 billion in commitments, has bought a minority stake in MKP Capital Management. The deal follows similar agreements with Pinnacle Asset Management last month and Scopia Fund Management earlier this month.

Terms of the agreement with MKP, which has $6.8 billion in assets under management, were not disclosed. As with its other partners, Dyal will be a passive investor and MKP's leadership and investment processes will remain unchanged. MKP will invest the proceeds from the stake sale in its funds.

New York-based MKP, which focuses on global macro, structured credit and relative value strategies, is the fifth hedge fund manager in Dyal's stable. Neuberger Berman set up the fund in 2010 to acquire stakes in established hedge fund managers; it said when it closed the fund in December that it expected to finalize several deals within a few months and that it eventually plans to invest in between 12 and 15 managers.

Prior to its recent buying spree, Dyal had taken minority stakes in Paris-based Capital Fund Management last December and Mast Capital Management in July.


In Depth

Part II: Roubini Talks Risk, Recovery And The Threat Of A Triple Dip Recession

Oct 21 2014 | 12:41pm ET

In the second half of our interview with Nouriel Roubini, FINalternatives editor...

Lifestyle

Balyasny Pays Over $6M For Lakefront House

Oct 22 2014 | 10:29am ET

A venture headed by hedge fund manager Dmitry Balyasny just paid $6.2 million for...

Guest Contributor

Hedge Funds Weather A Data Management Perfect Storm

Oct 22 2014 | 12:28pm ET

From a regulatory standpoint, nearly every development since the crisis has placed...

 

Videos

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

October 2014 Cover

Demeter: Family affair

David and James Hamman launched their fundamental Livestock and Grains Program in March of 2010 but it really was decades in the making.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.